Electronic Arts Inc. (EA) Shares Sold by Ameriprise Financial Inc.
Ameriprise Financial Inc. lessened its stake in Electronic Arts Inc. (NASDAQ:EA) by 26.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,966,591 shares of the game software company’s stock after selling 2,476,628 shares during the quarter. Ameriprise Financial Inc. owned 2.25% of Electronic Arts worth $736,400,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Guardian Life Insurance Co. of America grew its stake in Electronic Arts by 2.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after acquiring an additional 34 shares during the last quarter. Invictus RG grew its stake in Electronic Arts by 722.0% in the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after acquiring an additional 1,148 shares during the last quarter. D. Scott Neal Inc. acquired a new stake in Electronic Arts in the 2nd quarter valued at about $120,000. Commerce Bank acquired a new stake in Electronic Arts in the 1st quarter valued at about $203,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Electronic Arts during the 1st quarter worth about $205,000. Institutional investors and hedge funds own 93.89% of the company’s stock.
Shares of Electronic Arts Inc. (NASDAQ EA) traded down 0.18% during mid-day trading on Wednesday, hitting $120.19. 495,981 shares of the company were exchanged. The stock’s 50-day moving average price is $117.63 and its 200 day moving average price is $104.65. Electronic Arts Inc. has a 12-month low of $73.74 and a 12-month high of $122.79. The stock has a market cap of $37.11 billion, a PE ratio of 32.18 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $775.00 million during the quarter, compared to analyst estimates of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. Electronic Arts’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. On average, equities analysts anticipate that Electronic Arts Inc. will post $4.24 EPS for the current fiscal year.
EA has been the topic of several analyst reports. Needham & Company LLC initiated coverage on shares of Electronic Arts in a research note on Monday, July 17th. They set a “buy” rating and a $130.00 price target on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $135.00 price target (up from $123.00) on shares of Electronic Arts in a research note on Friday, July 28th. Bank of America Corporation raised shares of Electronic Arts from a “neutral” rating to a “buy” rating and set a $131.00 price target on the stock in a research note on Wednesday, July 26th. BidaskClub raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies raised their price target on shares of Electronic Arts from $119.00 to $128.00 and gave the stock an “overweight” rating in a research note on Friday, June 23rd. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $117.01.
In related news, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $117.14, for a total value of $1,171,400.00. Following the completion of the transaction, the chief financial officer now directly owns 199,614 shares in the company, valued at $23,382,783.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 9,059 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.91, for a total value of $959,438.69. The disclosure for this sale can be found here. Insiders sold 355,097 shares of company stock valued at $40,795,378 over the last 90 days. 2.55% of the stock is currently owned by corporate insiders.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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